MetLife Investment Management LLC Trims Stock Position in Emerson Electric Co. (NYSE:EMR)

MetLife Investment Management LLC cut its position in Emerson Electric Co. (NYSE:EMR) by 2.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 148,894 shares of the industrial products company’s stock after selling 3,689 shares during the quarter. MetLife Investment Management LLC’s holdings in Emerson Electric were worth $16,285,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently made changes to their positions in EMR. Capital Performance Advisors LLP purchased a new position in Emerson Electric during the third quarter worth about $25,000. Darwin Wealth Management LLC bought a new stake in Emerson Electric during the third quarter valued at approximately $29,000. Frazier Financial Advisors LLC bought a new position in shares of Emerson Electric in the 3rd quarter worth $33,000. Meeder Asset Management Inc. raised its position in shares of Emerson Electric by 361.5% during the 2nd quarter. Meeder Asset Management Inc. now owns 300 shares of the industrial products company’s stock valued at $33,000 after buying an additional 235 shares in the last quarter. Finally, Morton Brown Family Wealth LLC purchased a new position in Emerson Electric in the third quarter worth $33,000. 74.30% of the stock is currently owned by hedge funds and other institutional investors.

Emerson Electric Price Performance

EMR opened at $132.62 on Thursday. The stock’s 50 day moving average price is $115.79 and its 200-day moving average price is $111.15. Emerson Electric Co. has a 52-week low of $87.55 and a 52-week high of $134.17. The stock has a market capitalization of $75.62 billion, a PE ratio of 38.78, a price-to-earnings-growth ratio of 2.23 and a beta of 1.30. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.40 and a current ratio of 1.77.

Emerson Electric Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Friday, November 15th will be issued a $0.5275 dividend. The ex-dividend date is Friday, November 15th. This is a positive change from Emerson Electric’s previous quarterly dividend of $0.53. This represents a $2.11 annualized dividend and a yield of 1.59%. Emerson Electric’s dividend payout ratio is 61.70%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Stephens lowered Emerson Electric from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $135.00 to $120.00 in a research report on Wednesday, October 16th. KeyCorp boosted their price objective on shares of Emerson Electric from $125.00 to $140.00 and gave the stock an “overweight” rating in a report on Wednesday, November 6th. Oppenheimer increased their target price on shares of Emerson Electric from $120.00 to $125.00 and gave the company an “outperform” rating in a report on Thursday, September 26th. JPMorgan Chase & Co. downgraded shares of Emerson Electric from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $132.00 to $115.00 in a research note on Wednesday, August 14th. Finally, Royal Bank of Canada reduced their price objective on Emerson Electric from $139.00 to $138.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 6th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $130.00.

Insider Transactions at Emerson Electric

In other news, SVP Michael H. Train sold 21,525 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $125.96, for a total value of $2,711,289.00. Following the completion of the transaction, the senior vice president now owns 262,408 shares of the company’s stock, valued at approximately $33,052,911.68. This represents a 7.58 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.25% of the company’s stock.

About Emerson Electric

Emerson Electric Co, a technology and software company, provides various solutions for customers in industrial, commercial, and consumer markets in the Americas, Asia, the Middle East, Africa, and Europe. It operates in six segments: Final Control, Control Systems & Software, Measurement & Analytical, AspenTech, Discrete Automation, and Safety & Productivity.